Milaha launches new CIX shipping service

Tribune News Network Doha Milaha, Qatar’s leading maritime and logistics service provider, has announced the launch of a new express shipping service to co...

Tribune News NetworkDohaMilaha, Qatar’s leading maritime and logistics service provider, has announced the launch of a new express shipping service to connect the Far East (China and Southeast Asia) to India, Qatar and the Gulf region.The new ‘China-India Express’ (CIX) service was established to cater to the requirements of Milaha’s customers while ensuring world-class transit times, competitive freight rates, and timely delivery.This newly launched product is aimed at improving trade opportunities and enhancing connectivity between China, Singapore, Malaysia, Vietnam, India, Qatar, Oman, UAE, Kuwait and Iraq.The new shipping service will contribute to increasing the volumes handled by Hamad Port, facilitating imports, exports and transhipment opportunities and accelerating the exchange of trade between the Far East, India and the Gulf.Through launching this new express shipping service, Milaha confirms its commitment to supporting businesses in Qatar and the region, as well as Qatar’s 2030 vision, aimed at developing and diversifying the economy, enhancing international trade connectivity and securing a sustainable supply chain.Meanwhile, Milaha also announced the results of the extraordinary general assembly meeting, where it was approved to reduce the company’s capital by writing off treasury shares at a value of QR9.08 million, bringing the authorised and paid-up capital to QR1.136 billion, equivalent to 1.136 billion shares, and the nominal value share is QR 1.00, instead of QR 1.145 billion, which is equivalent to 1.145 billion shares.According to a statement published on Qatar Stock Exchange (QSE) website, the shareholders have agreed to amend the articles of association of Milaha according to the requirements of the regulatory authorities.